BEIRUT — Dozens of protesters from the Lebanese Association for Parents of Students in Foreign Universities gathered on Thursday at Banque du Liban in Hamra to demand the application of the “student dollar law” (Law No. 283), the state-run National News Agency reported.
Here’s what we know:
• The association’s head Rabih Kanj, in an interview with Al Jadeed, said, “[Commercial] banks have been arguing that they need a circular from BDL [to apply the student dollar law] but the law does not need one.” The protesters said they would attempt to obtain a circular nonetheless because of its potential uses “in court,” referring to attempts at unlocking funds through legal measures against banks.
• “We’ve all been made victims of these thefts, a great deal of parents need the ‘student dollar’ because the purchasing power of their salaries has been made null,” the association’s head continued, referring to the inability of depositors to access their funds and the devaluation of the lira. “The executive powers are those that can take the steps to apply the law; [the association] is doing what it can, we’ve been protesting for two years,” he added.
• On April 12, President Michel Aoun ratified Law No. 283 requiring banks operating in Lebanon to disburse $10,000 to Lebanese university students studying abroad who were registered before the academic year 2020-21.